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USDTRY

USD/TRY will continue to move higher in the following daysThe pair will continue to move higher in the following days to retest its 9-month high. The escalating tension between Russia and Turkey is an opportunity for the United States to improve ties with Turkey. In recent months, the US-Turkey relations fell. This was after Ankara purchased Russia’s S-400 missile defense system. Turkey is a member of the US-led NATO (North Atlantic Treaty Organization). As part of the group, the country was able to purchase US’ most advanced fighter jet, the F-35. America argued that F-35 is not compatible with S-400. On Monday, February 03, Russia-backed Syrian government forces killed five (5) Turkish soldiers. This has put the future relations between the two (2) countries in question. Turkish President Recep Tayyip Erdogan said that the Assad government will face consequences for killing its soldiers. Furthermore, US killing Iranian General Qassem Soleimani is beneficial to Turkey.
Long
by Financebroker
Watch for downside consolidation breakout in EURTRY and USDTRYThere is a potential to trade a downside breakout of the consolidation (lira continues to increase) into wedge/triangle support. The price target is the rising trendline on both the USD/TRY (near 5.75) and EUR/TRY (just above 6.4). A stop loss goes above the consolidation. The reward:risk is 1.25:1 to 1.5:1, but over a week or two the rollover would add to the potential profit. The Turkish lira interest rate is 11.25%. The US rate is 1.75% and the EUR rate is 0%. The short trade picks up the interest rate differential. A long trade pays the interest rate differential. I am not interested in the long, only the short, if it materializes.
Short
by CoryMitchell-CMT
2
USDTRY : Long SetupLooking at the Turkish Lira's developing MSCI Emerging counterparts, it was very fragile in a financial quarter of time, and 10-year bond yields did not increase.(TR10Y) This could make the Turkish Lira vulnerable to attacks. Although this analysis includes a low Risk / Reward ratio, I have shared it as a roadmap for lower time periods. Because the risk / reward ratio can be much more profitable in lower time periods. For the detailed information of analysis, don't forget to look at the related ideas, I wish everyone a happy New Year. Parameters : Risk/Reward Ratio 1/1.17 Position Size : %1 Stop-Loss : 5.7997 Goal : 6.124 NOTE : I'm still a fan of this analysis in the lower timeframes for lower Risk/Reward Ratio with decreasing Stop-Loss percent. If I get a signal about this, I will definitely share it, and wish everyone a happy New Year.
Long
by Noldo
USDTRY AnalysisHey Traders, I hope everyone is having a good time as the year is ending and new one is beginning soon; I saw this market or the dollar-Lira which the market has broken the resistance area and then retested, if the market holds above this level and the breakout turns to be real one, then the Lira is going up, my target is the second resistance area which the wig the market made 26th of Aug this year. however, if the breakout turns to be a fake breakout, then the market is gonna sell-off around 5.80 as my level of support, then the market will decide where to go then. Here is the trade setup Scenario 1: Long Trade Setup USDTRY Buy at 5.93133 Stop Loss at 5.8960 Target Profit at 6.03960 If market movement is now fake and the current support area is broken, then the market would turn into short and here is the second scenario for it: Scenario 2: Short Trade Setup USDTRY Sell at 5.88000 Stop Loss at 5.9580 Target Profit at 5.8000 Good Luck and happy new year!
by sirkamal